Series 7 Munis - Definitions
Municipal Finance Definitions for Series 7 Exam
State Governements, Legally Constituted Taxing Authorities and Territorial US Possessions
Term, Serial and Balloon
All principal matures at a single date in the future. Quoted by price like corporates. Called dollar bonds.
Bonds within an issue mature on different dates according to a predetermined schedule. Quoted on YTM
Issuer pays part of a bonds maturity before the final maturity date. Largest portion paid at maturity.
Several taxing authorities that draw from the same taxpayers can issue debt 2 or more issuers tax the same property
2 or more taxing agencies that share map and can issue debt seperately. Usually occurs in property taxes
Revs with GO features. Interest and principal paid from earnings. Bonds also backed by the taxing power of municipality. Rated and Traded like GOs